GDP growth in the UK for the first quarter was confirmed at 1.2%

Investing.com – According to the report of the Office for National Statistical  of Great Britain (ONS) published on Friday, the value of the country’s economic growth for the first quarter remained unchanged.

According to the ONS report, in the first quarter of 2018, the UK’s GDP increased on an annualized basis by 1.2%, which coincides with a pre-determined value.

Compared with the fourth quarter of last year, GDP growth was 0.1%. This coincided with the experts’ forecasts that this value will remain unchanged.

However, the growth of business investment in the first quarter was revised downward to 2.0% on an annualized basis in comparison with the previously defined growth of 2.6%.

Analysts assumed that this figure would be revised up to a 2.4% increase.

Compared to the previous quarter, the growth in investments in the business was revised downwards to 0.2% compared to a pre-determined growth of 0.3%.

Analysts had expected that the growth in investment in the business would be adjusted to 0.2%.